Vitalik Buterin Has Some Respect For How EOS Handles Governance

The co-founder of Ethereum, Vitalik Buterin, has some respect and praises how the EOS cryptocurrency handles its governance. In a recent series of tweets, the co-founder of the biggest altcoin out there gave a nod of approval to the competing blockchain EOS in regards to the niche they are trying to carve out. Buterin was in the crypto news for his tweet on May 15 which read:

“If I were designing a new chain to live alongside Bitcoin and Ethereum, I would take all the political tradeoffs that BTC and ETH aren’t willing to take.”

This is why I actually have some respect for EOS and co. I *disagree* with DPoS but at least they're *trying* to develop a cohesive and principled alternative niche.

— vitalik.eth (@VitalikButerin) May 15, 2020

It appears that Vitalik Buterin has some respect for EOS and the way the coin is competing against Bitcoin and Ethereum, especially with its attempts to revolutionize the blockchain.

Traders who are following the EOS news and holding the cryptocurrency should know that this comment by Buterin is not a small thing. For those of you who don’t know, Vitalik is listed as the fifth most influential person in crypto and blockchain – holding significant weight in the industry.

Buterin noted that the quadratic voting based on chain governance and all built-in cryptographic procedures as specific tradeoffs of interest. He also included the on-chain oracles for all events – instead of the ones which simply relay price moves.

Vitalik Buterin has some respect for EOS, and mentioned adding some form of identification on the network. “Perhaps even an on-chain model of identity, at least for participants who want to participate in governance (non-governing actors would still be fully anon),”he noted.

However, he also specified constructing the feature “smarter” compared to other current platforms. He concluded the following:

“This is why I actually have some respect for EOS and co. I disagree with DPoS but at least they’re trying to develop a cohesive and principled alternative niche.”

The big question in the EOS news now is…

Does this comment have a potential to make the price of the coin go up – or will we see a period of consolidation before that happens?

Currently, the EOS cryptocurrency is trading at the ninth place at $2.65, with a 1.85% increase on the day. The $2.75 and $2.80 are now the main resistance levels to breach as EOS is trying to overcome Binance Coin (BNB) in terms of its market cap.